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Financial Institutions Employee Benefits Financial Services Industry

Seyfarth Shaw LLP

Changing Last Year’s Assumptions This Year: Gotcha or Copacetic?

Seyfarth Shaw LLP on

Just before its summer recess, the Supreme Court agreed to review whether multiemployer pension funds can impose withdrawal liability based on actuarial assumptions adopted after the relevant plan year. The expected decision...more

A&O Shearman

UK Pensions: What’s new this week? July 7, 2025

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Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. FCA consultation on targeted support: relevance to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity adds student match program

The 401(k) world has long been a place where innovation comes with a compliance manual and where “benefits” are often tied up in strings long before they reach employees. But sometimes, a change comes along that feels like a...more

A&O Shearman

UK moves to permanently exempt UK and EEA pension schemes from the derivatives clearing obligation

A&O Shearman on

A draft of the Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025 has been published alongside an explanatory memorandum. The draft Regulations will amend the UK European Market Infrastructure Regulation...more

A&O Shearman

UK Pensions: what's new this week - February 24, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Financial reporting and the Virgin Media case - The...more

Jackson Lewis P.C.

Missing Participants – New State Unclaimed Property Fund Option for Small Balances

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On January 14, 2025, the DOL issued Field Assistance Bulletin (FAB) 2025-01, providing sponsors and administrators of ongoing defined contribution plans with a new option for missing participant balances of $1,000 or less:...more

Mayer Brown

The Pensions Brief: February 2025

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ISSUES AFFECTING ALL SCHEMES - PENSION SCAMS – MEMBER LEAFLET - The Pensions Regulator (TPR) has updated its member leaflet on pension scams so that it is branded from the Pension Scams Action Group rather than TPR. The...more

Carlton Fields

2 Across: Changing Financial Product Recommendations

Carlton Fields on

Artificial intelligence (AI) can and is already changing how firms and registered representatives recommend financial products to customers. AI has the potential to enhance recommendations that registered representatives...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t Fall For These 401(k) Plan Provider Gimmicks

A “sales gimmick” is a term that refers to a method a business employs to immediately generate demand for its product or service. I just bought Fan Fest tickets 6 months in advance because they were giving me a $30...more

K&L Gates LLP

QPAM Exemption Amendment—Key Takeaways and Action Steps for Advisors and Other Stakeholders

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Executive Summary - Many investment advisers and other financial institutions rely on the Department of Labor’s QPAM Exemption when providing services to, and transacting with, employer-sponsored retirement plans, individual...more

Troutman Pepper Locke

DOL Proposed Rule: New Definition of "Investment Advice Fiduciary"

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On October 31, the Department of Labor (DOL) released a proposed rule (the Proposed Rule) aiming to redefine and expand who qualifies as an “investment advice fiduciary” under the Employee Retirement Income Security Act of...more

Stikeman Elliott LLP

OSFI Releases New Supervisory Framework for FRFIs and Pension Plans

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On October 4, 2023, the Office of the Superintendent of Financial Institutions (“OSFI”) released details of a new supervisory framework (“New Framework”) that will apply as of April 1, 2024 to federally-regulated financial...more

Skadden, Arps, Slate, Meagher & Flom LLP

IRS Makes Permanent Its Fast-Track Corporate Private Letter Rulings

On July 26, 2023, the Internal Revenue Service (IRS) Chief Counsel’s Office announced that it would make permanent its pilot program of issuing “fast-track” private letter rulings for requests solely or primarily under the...more

Goodwin

U.S. Department of Labor Formalizes Reinstatement of “Five Part Test” For Fiduciary Investment Advice and Proposes Broad Principal...

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On June 29, 2020, the U.S. Department of Labor (the Department) formally reinstated its “five-part test” for determining what constitutes “investment advice” under ERISA and Section 4975 of the Internal Revenue Code (the...more

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